WUXI, China, June 23, 2016 /PRNewswire/ -- Cleantech Solutions
International, Inc. ("Cleantech Solutions" or "the Company")
(NASDAQ: CLNT), today announced that its variable interest entity,
Wuxi Huayang Dyeing Machinery Co., Ltd. ("Huayang
Dyeing") accepted a purchase
order on June 16, 2016 for its high
temperature air-flow dyeing machines from a textile manufacturer
based in Hangzhou, China.
Pursuant to the purchase order, Huayang Dyeing will provide the
customer 42 units of its high temperature air-flow dyeing machines.
Huayang Dyeing will receive RMB16.0
million ($2.4 million) upon
initial delivery, and will receive the remaining RMB10.6 million ($1.6
million) in 21 monthly installments of RMB0.5 million ($76,000) following successful installation and
testing of the initial units. The
Company expects to begin delivering the equipment in November 2016.
"We remain focused on our dyeing equipment business and are
encouraged by this sizable order from a long-term customer for our
energy efficiency and environmentally friendly high temperature
airflow dyeing machines. We hope to build upon this success
in the future," said Mr. Jianhua Wu,
Chairman and CEO of Cleantech Solutions.
About Cleantech Solutions International
Cleantech Solutions, through its affiliated companies and
subsidiaries, manufactures and sells textile dyeing and finishing
machines and sells forged products and fabricated products to a
range of clean technology customers including high precision forged
rolled rings and related components.
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary and
affiliated companies. These forward looking statements are often
identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website, including factors
described in "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
Form 10-K for the year ended December 31,
2015 and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in our Form 10-Q for the
quarter ended March 31, 2016. All forward-looking
statements attributable to the Company or to persons acting on its
behalf are expressly qualified in their entirety by these factors
other than as required under the securities laws. The Company does
not assume a duty to update these forward-looking
statements.
Company Contacts:
Cleantech Solutions International, Inc.
Ryan Hua, Vice President of
Operations
E-mail: ryanhua@cleantechsolutionsinternational.com
+86-510-8339-7559
Web: www.cleantechsolutionsinternational.com
Compass Investor Relations
Elaine Ketchmere, CFA
Email: eketchmere@compass-ir.com
+1-310-528-3031
www.compassinvestorrelations.com
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SOURCE Cleantech Solutions International, Inc.